Chapter 16 Flashcards
is the final step in the distribution channel in which organizations sell goods and services to consumers for their personal use
what is this ?
retailing
how much is retailing in the U.S. every year ?
$21 trillion
how much of that retailing sales is e-commerce annual sales ?
3.8 trillion
What are the 6 types of store retailing ?
- convenience stores (7 eleven)
- supermarkets (Kroger)
- limited assortment (Aldi)
- general merchandise (Walmart)
- off price retailers (Marshalls)
- outlet stores (Nike outlet)
What are the 6 types of non store retailing ?
- Online (amazon)
- Vending (All sorts of vending machines)
- Direct mail & catalogs (L.L. Bean catalog)
- TV home shopping (QVC)
- Telemarketing (ADT)
- Direct selling (Mary Kay)
is the same as marketing strategy but with some terminology differences
what is this ?
retailing strategy
How does the marketing strategy go ?
Situation analysis -> STP -> 4 Ps/marketing mix
How does retailing strategy go ?
Situation analysis -> STP -> Pricing, location, communication, merchandise
What’s the 6 types of shopper marketing ?
- Shelf talkers
- coupon machines
- catalina
- floor talkers
- weekly ads
- displays
What are the 4 types of shopper marketing online ?
- banner ads
- banners with ratings
- related items recommendations
- sponsored search
a systematic disciplined approach to managing a product category as a strategic business unit
what is this ?
category management
*are responsible for every aspect of a specific category in the store
*they have an endless pursuit of finding the right mix of branded and private label products to drive sales and profit
what is this ?
category managers
What’s the future of retailing involve ?
- economic evolution
- customer evolution
- technological evolution
distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet
what is this ?
form of ownership
describes the degree of service provided to the customer from three types of retailers: self, limited, and full service
level of service
describe how many different types of products a store carries ad in what assortment
what is this ?
merchandise line
the store carries a large assortment of each product item
what is this ?
depth of product line
the variety of different product items a store carries
what is this ?
breadth of product line
combines a typical merchandise store with a full sized grocery store
what is this ?
supercenter
using the telephone to interact with and sell directly to conosumers
what is this ?
telemarketing
a matrix that positions retail outlets on two dimensions: breadth of product line and value added, such as location, product reliability, or prestige
what is this ?
retail positioning matrix
the activities related to managing the store and the merchandise in the store, which include retail pricing, store location, retail communication, and merchandise
what is this ?
retailing mix
refer to the amount added to the cost of goods sold to arrive at the selling price
what is this ?
the markup/gross margin
when a product does not sell at the original price and an adjustment is necessary
what is this ?
markdown
emphasizes consistently low prices and eliminate most markdowns
what is this ?
everyday low pricing
selling brand name merchandise at lower than regular prices
what is this ?
off price retailing
the way in which the store is defined in the shoppers mind
what is this ?
retail image
the process of growth and decline that retail outlets, like products, experience, consisting of the early growth, accelerated development, maturity, and decline stages
what is this ?
retail life cycle
the utilities provided by retailers create value for consumers
what is this ?
consumer utilities
the owner is the boss
what is this ?
independent retailer
involves multiple outlets under common ownership
what is this ?
corporate chain
include soft drink, motel, retailing, fast food, and car rental operations and a variety of business services
what is this ?
franchising
requires that customers perform many functions during the purchase process
what is this ?
self service
provide some services, such as credit and merchandise returns but not others, such as clothing altercations
what is this ?
limited service outlets
all rely on better service to sell more distinctive, higher margin goods and to retain their customers
what is this ?
full service
non store retailing includes vending machines which make it possible to serve customers when and where stores cannot
what is this ?
automatic vending
“the store that comes to the door”
what is this ?
direct mail and catelogs
when consumers watch a shopping channel on which products are displayed
what is this ?
television home shopping
allows consumers to search for, evaluate and order products through the internet
what is this ?
online retailing
door to door retailing
what is this ?
direct selling
the use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store
what is this ?
shopping marketing
assignes a manager the responsibility for selecting all products that consumers in a market segment might view as substitutes for each, with the objective of maximizing sales and profits in the category
what is this ?
category management
